Smoke Market Analysis 01/04/19 - We're seeing increased bullish volume and volatility (Smoke Exclusive)

3 months ago

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Heating up

We've had some hot market activity on smoke recently with some major volatility. We've just closed our 4th daily candle since my last analysis. At the time I had said we could see a bounce off that hammer candle, and we did, only to find new lows, ultimately around .456 bts/smoke. Price erupted today reaching a high of .95 bts/smoke, twice our low.

Volume

We're seeing a nice pop to volume over the past few days with a few thousand smoke being traded. It has broken us out of a long lull in trading activity where we saw days with no trading or only a few hundred smoke changing hands. Trading volume and liquidity are important for the growth of a market.

Order Books

The last time we took a look a the order books, they were very thin, on both sides really. We're seeing more orders hit the books, and more so on the buy side. This is really positive news for our maturing market. The last few days have seen more limit buys added to the books, as well as a lot of market buys chewing into the sell side of the books. This is positive and bullish long term.

Outlook

The sell side of the order books are still thin so another move up is possible here, but we may see some consolidation instead. There are definitely more players stepping into the smoke trading market. We are still below 50% of the all time high at this price, if we break up above 1.0, I would reassess the situation.

This article is not to serve as financial advice



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This is a good analysis, maybe price going up is due to smoke network buying smoke with the money they made with the banners of publicity? I remember stoner telling that 50% of the profits would be to buy smoke in the market and burn it and the other 50% to invest in marketing.

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I don't even think that they have started doing that yet. I think this is all organic demand from users who are buying smoke to power up.

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Yes, this is organic grow and demand by @satoshiweedamoto and some other users :)

I am glad to hear this, it is good to know that the community is growing in sales and that there is an improvement in the market.

It's exciting being here on the ground floor. Smoke to the moon!

Worth keeping an eye on RUDEX.SMOKE too 👍

https://bitsharescan.com/asset/RUDEX.SMOKE

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Yeah, I think this is where a majority of the smoke trading goes on. There's still pre-main net tokens trading, but that'll eventually close I believe?

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There's still pre-main net tokens trading, but that'll eventually close I believe?

I think their supply will slowly reduce to 0 as they're all claimed. RUDEX.SMOKE will become more active as time passes

That's a good start for the year,hopefully the price will go higher

Keep Calm and Earn SMOKE
:)